Lennar Corporation $LEN Holdings Cut by Pacer Advisors Inc.

Pacer Advisors Inc. cut its stake in shares of Lennar Corporation (NYSE:LEN) by 27.1% in the 1st quarter, Holdings Channel reports. The firm owned 17,020 shares of the construction company’s stock after selling 6,314 shares during the quarter. Pacer Advisors Inc.’s holdings in Lennar were worth $1,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Phillip James Consulting Co. acquired a new position in Lennar during the 1st quarter valued at approximately $30,000. High Point Wealth Management LLC acquired a new stake in Lennar in the fourth quarter worth $31,000. DV Equities LLC bought a new stake in Lennar in the fourth quarter valued at $31,000. Global Assets Advisory LLC acquired a new position in shares of Lennar during the first quarter valued at $39,000. Finally, Quarry LP bought a new position in shares of Lennar during the fourth quarter worth about $41,000. Institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Truist Financial cut their price objective on shares of Lennar from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Thursday. Wells Fargo & Company dropped their price target on shares of Lennar from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, June 15th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Lennar in a report on Friday, June 5th. JPMorgan Chase & Co. decreased their price objective on Lennar from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Tuesday, June 16th. Finally, Bank of America lowered their target price on Lennar from $84.00 to $77.00 and set an “underperform” rating on the stock in a research report on Friday, June 12th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $92.13.

Lennar Stock Performance

LEN opened at $88.11 on Friday. The business has a 50 day moving average price of $87.52 and a two-hundred day moving average price of $95.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.91 and a quick ratio of 0.91. The company has a market capitalization of $21.23 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 2.93 and a beta of 1.39. Lennar Corporation has a 1-year low of $79.82 and a 1-year high of $144.24.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.07. The company had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period last year, the firm earned $1.81 EPS. Research analysts predict that Lennar Corporation will post 5.52 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. Lennar’s payout ratio is currently 31.30%.

Lennar Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.